🠈 Shake Shack 🠊
Shake Shack
Shake Shack is a rapidly expanding chain of fast casual restaurants that serve gourmet hotdogs and burgers in kiosk style restaurants. The headquarters are in NYC. The company trades on the NYSE with the symbol SHAK.
The comcept was developed by restaurateur Danny Meyer of the Union Square Hospitality Group (USHG) for the renovation of Madison Square Park by the Madison Square Park Conservancy. The shack opened in 2004.
The restaurant had annual sales over $4 million and, in 2010, the kiosk restaurant escaped from the park and began expanding throughout New York. Leonard Green Partners helped fund the expansion in 2012 in exchange for a 40% stake in USHG.3
In 2014, the Shake Shack outbreak had reached a dozen states and USHG decided to spin off the chain in an IPO. The IPO raised $9.6 billion. It was a huge score for Leonard Green.
The company continued its rapid expansion. The company had grown to 130 locations in 2019.
My Question for the World?
The success of Shake Shack doesn't surprise me. People want quality food in a casual setting. The big question is why are private individuals running out and creating this type of venue? This video shows the grand opening of a Shake Shack:
Shake Shack from Paul Paul Films on Vimeo.
References:
- Wikipedia - Shake Shack (Drawn 10/20/2019)
- National Restaurant News - Shake Shack IPO (Drawn 10/20/2019)
- USHG Invests (Drawn 10/20/2019)
Directory Listings:
- Phoenix Color - Fast Foods: Shake Shack
- Denver Color - Fast Food: Shake Shack
- Salt Lake Sites - Fast Foods: Shake Shack